SpaceX Aims to Raise $75 Billion, Palantir Selects Audit Targets for IRS | Rewire News Evening Report

Published on: 2026.03.30 · BlockBeats Connection

The rocket builders are preparing to swallow the entire IPO market, while those who write algorithms are selecting audit targets for the IRS. With insufficient power for AI usage, some are sending GPUs into space.

1 | SpaceX Targets $75 Billion IPO, Aiming to Swallow the Entire Tech IPO Market

SpaceX has submitted a prospectus to the SEC with the aim of raising $75 billion and is valued at $1.75 trillion. This would be 2.5 times the largest IPO in human history, which was Saudi Aramco's $29.4 billion record, and surpasses the total IPO financing in the United States for 2024 and 2025. Morgan Stanley and Goldman Sachs will underwrite the deal, aiming for a June listing.

After acquiring xAI, SpaceX is simultaneously a satellite internet provider (Starlink with 9 million users and profits exceeding $8 billion), a defense contractor, and an AI infrastructure company. Its valuation has increased 38 times from $46 billion to $1.75 trillion over six years.

Following SpaceX are OpenAI and Anthropic. The $75 billion financing scale will absorb how much market liquidity, and what valuations can the AI unicorns waiting in line obtain? This is a bigger question than SpaceX itself.

(Source: Bloomberg / Axios / The Information / Barron's)

2 | New Dimension in AI Infrastructure Race: Space GPUs, European Debt, 7.5GW Wind Power Frozen

Starcloud raised $170 million in Series A, with a valuation of $1.1 billion, becoming the fastest unicorn in YC history, only 17 months after Demo Day. The company used $3 million in seed funding to launch its first satellite equipped with an H100 GPU, targeting a network of orbital data centers with 88,000 satellites. With insufficient power on Earth, some are starting to send GPUs into space.

Mistral borrowed $830 million from seven banks to build a data center in Paris, equipped with 13,800 GB300 GPUs, set to go online in the second quarter. Funds for AI in Europe are not coming from VCs but from banks.

On the American side, the Pentagon has frozen the military approvals for 30 wind power projects totaling 7.5 gigawatts. The Clean Power Association has limited the Defense Department to respond by April 8, or they will sue. AI companies are scrambling to build data centers, while power approvals are stuck in paperwork.

(Source: TechCrunch / SpaceNews / Reuters / Axios / American Clean Power Association)

3 | Palantir Selects Audit Targets for IRS, AI Enters Core of Federal Law Enforcement

Documents obtained by Wired show that the IRS paid Palantir $1.8 million last year to improve a custom tool named SNAP, which filters "highest value" audits, tax collection, and potential criminal investigation targets from an old system. The tool extracts key information about contracts, vehicles, and suppliers from unstructured data, replacing over 700 outdated filtering systems that the IRS has operated for decades.

A larger project is the "mega API." Palantir is working with IRS engineers to build a unified data interface layer, aiming to become the "reading center for all IRS systems." Democratic senators have asked Palantir to explain this "searchable superdatabase" plan, calling it a "surveillance nightmare."

Since 2018, Palantir has received over $180 million from the IRS, involving 26 contracts. The same company tracks immigrants for ICE, selects audit targets for the IRS, and integrates government data for DOGE; the central hub of federal government data is being built by a private company valued at over $100 billion.

(Source: Wired / Tax Notes / U.S. Senate Finance Committee)

4 | Day 31 of Iran War: Trump Says to "Seize Oil," Marines Have Arrived

Trump has publicly stated intentions to invade Iran to "seize oil," calling dissenters "fools." The 31st and 11th Marine Expeditionary Units have arrived in the Middle East, and the 82nd Airborne Division is on the way. The Washington Post reports that the Pentagon is preparing for "weeks of ground operations," including seizing the oil hub on Kharg Island. The narrative of the war has shifted from "retaliation" to "resource control."

The IAEA confirmed that Iran's heavy water reactor is no longer operating. Oil prices have risen to $116 per barrel, increasing over 50% since the war began. EIA data shows that traffic through the Strait of Hormuz has plummeted from 2 million barrels per day before the war, forcing Gulf countries to cut production by 10 million barrels per day.

Macquarie analysts believe Trump is following the "TACO" timeline (Trump Always Chickens Out), predicting an end in six weeks, and we are now in the fifth week. Economic toll: $1 billion in daily expenses, over 3,000 deaths. (Continuation of yesterday's report)

(Source: Al Jazeera / Fortune / CNN / Washington Post / Military.com / EIA / IAEA)

Also Worth Knowing ↓

DeepSeek experiences its longest downtime since launch, affecting 355 million users for 7 hours. The most popular AI chatbot in China has faced the most severe service interruption since the R1 release in January 2025. The reason for the downtime has not been disclosed. (Source: Bloomberg / Reuters)

Dell builds a $25 billion AI infrastructure business from scratch in two years. The "washed-up PC manufacturer" saw its stock price drop by a third in 2022, but total revenue reached a record $113.5 billion in 2025, guiding Wall Street's expectations that AI server sales will reach $50 billion next year. The suppliers of AI infrastructure are not just NVIDIA. (Source: Fortune)

Huayan Robotics surged 8.24% on its first day of trading in Hong Kong, with the public offering oversubscribed by 5,000 times. It debuted on the Hong Kong stock market with an issuance price of HKD 17 and a market value of HKD 9 billion, attracting nearly $100 million in cornerstone investments from Hillhouse, GF Fund, Morgan Stanley, and others. The capital hype for embodied intelligence is spilling over from the primary market to the secondary market. (Source: 36Kr)

The Ethereum Foundation stakes $42 million in ETH at once. On-chain data indicates this is the foundation's largest single staking operation to date. Previously, the foundation had not participated in staking for a long time; the signal of this strategic shift is noteworthy. (Source: CoinDesk / The Block)

Chinese cloud vendors achieve large-scale profitability for the first time, and AI demand turns around the industry's losses. Tencent Cloud is expected to make a profit for the first time in 2025, while Kingsoft Cloud has recorded adjusted profits in positive territory for two consecutive quarters. The bargaining power of cloud vendors in the AI era is increasing, and the history of low-price competition may soon end. (Source: 36Kr / Shanghai Securities News)

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